Shougang green bonds oversubscribed, final issuance size set

Beijing Shougang has announced the results of its first phase of green technology innovation corporate bonds offered to professional investors. The issuance, approved for up to CNY10 billion in total, saw the first tranche limited to CNY500 million and was ultimately oversubscribed 3.14 times. The final issuance saw the one-year term bonds cancelled, with only the five-year term bonds being offered at a coupon rate of 1.92%. Major underwriters, including China Everbright Securities, Guotai Junan Securities, China International Capital Corporation, CITIC Securities and CITIC Construction, all participated in the underwriting. All investors meet the requirements for participation.